Why Daytrade????

Discussion in 'Trading' started by retire45, Sep 3, 2007.

  1. very cool. good story, thanks!!

    surf
     
    #21     Sep 3, 2007
  2. noob... That is funny.. underlines the fact that online games don't risk real money.. when real money is at stake things get A LOT more competitive..

    I suppose in the same way I see Daytraders there are those buy and holders that see swing trading as daft.. Whatever works for you...

    Key though is to realise if you are not making it trading one time frame you may do better in another.. BUT most fortunes made trading the markets were not made daytrading but in longer time frames... So if you are good daytrading probably a good idea to tinker with some longer holds..
     
    #22     Sep 3, 2007
  3. Even been to CME or CBOT? Those locals who are top performers made fortunes and they where/are your classic day traders. Some 10 yr and 30 years traders made 2m to 10m each year for the last decade

    You just need to find liquid markets where you can trade size and not have that overnight even risk.

    A "Real Trader" will trade the best time frame per the best market environment ( day scalp, day swing. multi day swing, weekly swing, long term trend follower).

    Time Frame is not static and one with a flexible plan and good money management and risk limits backed up by a solid option background to limit the risk, will make money and can make big money in any market environment.

    The Secret: Emotions and self discipline
     
    #23     Sep 3, 2007
  4. patoo

    patoo

    Yeah I have heard the stories, been to CME and seen te 10M traders, but....

    As someone who trades in the same manner as 45, I don't see any consistant trends in time frames under an hour.

    if the trends only last 20 minutes or less (not counting trend days) what is the trading plan to that video game, er day trading??
     
    #24     Sep 3, 2007
  5. hbiawos

    hbiawos

    So what's the big picture? Break it down for those of us who aren't sure.
     
    #25     Sep 3, 2007
  6. hbiawos

    hbiawos

    A most excellent question.
     
    #26     Sep 3, 2007
  7. why?.. because some people such as myself like the action and the challenge.
     
    #27     Sep 3, 2007
  8. patoo

    patoo

    Just stare at weekly, daily, and hourly charts its all there !

    Thats the big picture
     
    #28     Sep 3, 2007
  9. The big picture is your account balance.
     
    #29     Sep 3, 2007
  10. patoo

    patoo

    and mine shrinks whenever I look at 5 minute bars

    :D
     
    #30     Sep 3, 2007